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Recent Blog Posts

Could the COVID-19 Pandemic Lead to the End of Medical Bankruptcy?

In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the candidates. While the candidate who promoted that concept has since dropped out of the […]

What Are the Signs That Your Healthcare Debts Might Be Best Managed Through Bankruptcy?

The new healthcare system in the United States under the Affordable Care Act (“Obamacare”) should lead to a significant improvement in how millions of people are covered by insurance. Healthcare premiums should also be reduced for millions who were spending large sums for insurance — which for some was more than half their monthly income.  […]

Double Trouble: Hurricane Sandy, Added to Other Financial Burdens, Begs a Solution

Life sometimes doles out bad luck in double doses. Given how many millions of people were directly and indirectly affected by Hurricane Sandy, it’s clear that thousands of people in the New York, New Jersey and Connecticut areas likely were also dealing with financial problems even before the storm hit.  For example, consider people whose […]

The Burdens of Student Loan Debt Need Fixing

The financial burdens of student loans rest heavily, of course, on the most recent generation of college graduates. Some have accumulated three or more times as much debt as their annual salaries. This significantly handicaps their ability to purchase homes and cars, start a family or go to graduate school.  In fact, the National Association […]

Three Tactics to Avoid Financial Devastation from Healthcare Costs

It is fairly well understood that medical costs — such as a two-day emergency hospitalization that comes with a bill of more than $100,000 — are a primary cause of bankruptcy in America.  Changes in health insurance plans under the Patient Protection and Affordable Care Act are in the works. But deductibles and copays, costs […]

How the Hardship Rules Regarding Student Loans and Bankruptcy Work

Outstanding student loans in the United States topped $1 trillion in 2011, which now exceeds the amount of credit card debt held by all Americans. That does not tell the story of the struggling college graduate whose education has yet to pay off in a lucrative job, even as the person is being told to […]

Even Under Obamacare, Medical Bankruptcies Can Still Happen to New Yorkers

The Affordable Care Act (ACA, or “Obamacare”) is transforming the landscape in healthcare, broadly expanding the total number of people who can afford or access health insurance. This is expected to have the effect of improving disease and injury management overall, saving lives while reducing costs to the system.  In fact, health insurance is described […]

Bankruptcy as an Answer to Inadequate Insurance Coverage During Hurricane Sandy

The water had barely subsided after Hurricane Sandy struck in 2012 when financial worries began to mount. Many families lost their homes and life savings to the wind, rain and storm surge.  Adding insult to injury, many of those affected had property insurance that proved inadequate. One homeowner in New Jersey posted a sign in […]

Are You the One in Five People Whose Medical Bills Might Lead to Bankruptcy?

With an estimated 20 to 30 million more Americans likely to get health insurance under the Affordable Care Act or “Obamacare” launching in full in 2014, medical economists caution that financial problems because of healthcare are not going to disappear, even if they are lessened. Copays and deductibles under legitimate insurance plans can still add […]

Technical and Emotional Preparation for the 341 Bankruptcy Meeting of Creditors

No one plans far in advance to file for bankruptcy. But whether it is a Chapter 7 filing liquidation of assets (minus the generous exemptions allowed under New York bankruptcy law) or reorganization under Chapter 13, a bankruptcy can be the solution to financial problems that build over time.  Many bankruptcies, however, do come from […]


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